Local Real Estate Company Commits To Helping Save Homeowners From Foreclosure
FOR IMMEDIATE RELEASE
Fourteen Realtors® from Realty World Homes of Distinction have earned the prestigious Certified Distressed Property Expert (CDPE) designation, having completed extensive training in foreclosure avoidance and short sales. This is invaluable expertise to offer at a time when the area is ravaged by “distressed” homes in the foreclosure process.
Historically, a percentage of homes have always been in foreclosure. With the recent challenges in the subprime lending market, this percentage has grown dramatically. “We felt it was important to acquire the specialized knowledge needed to assist home owners in need,” said Debbie Ward-Terry, one of the Realty World agents to earn the CPDE designation, “and to further enhance the ability to provide homeowners with every option available to find the best solution for their situation.”
Rapid growth in what once was a niche market requires Realtors® to gain specialized knowledge and learn new processes that will allow them to successfully assist homeowners in need. The Distressed Property Institute provides the tools and information Realtors® need to help distressed homeowners avoid foreclosure and move forward with their lives.
More than 11 percent of American homeowners are either delinquent on their mortgages or in foreclosure, according to the National Delinquency Report from the
Mortgage Brokers Association. The number of borrowers at least one month behind in their payments - but not in foreclosure - rose to nearly 8 percent during the fourth quarter of 2008. That is the highest rate of delinquency ever recorded by the survey, which began in 1972. It reflects a record 13 percent jump compared to the third quarter.Nationally, only 12 percent of short sales are approved. Among CDPE designated Realtors®, more than 85 percent of short sales are approved. According to the National Association of Realtors®, more than 45 percent of existing home sales in the fourth quarter of 2008 were foreclosures and short sales.
In a short sale transaction, homeowners sell their property for less than the mortgage amount. With declining property values, this can save many people from foreclosure and even bankruptcy. More and more lenders are willing to consider short sales because they are much less costly than foreclosures. Ironically though, 7 out of 10 homeowners go into foreclosure without viable intervention. “Our goal is to spread the word that there is an alternative to foreclosure if you are experiencing financial difficulties,” said Ward-Terry.
Alex Charfen, founder of the Distressed Property Institute in Boca Raton, Fla., said that Realtors® with the CDPE designation have valuable training in short sales that can offer the homeowner much better alternatives to foreclosure, which virtually destroys the credit rating. These experts also may better understand market conditions and can help sellers through the emotional experience. Charfen believes that homeowners surrounded by a strong CDPE real estate agent team including legal and financial
referrals have the greatest chance of avoiding foreclosure and at minimal financal investment to the homeowner.The Distressed Property Institute opened in January 2008 and is providing training throughout the United States. There are over 1.2 million Realtors® in the United States, and currently fewer than 3,000 are Certified Distressed Property Experts. The CDPE is the premier designation for Realtors® helping homeowners in distress and handling short sales.
For a confidential interview to see if a short sale is right for you and for more information about avoiding foreclosure, call 863-577-2600.
Categories: Today's News
Tags: realty world foreclosure short sale certified distressed property expert cdpe
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